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Multi-currency
     

Businesses transacting in multiple currencies will appreciate the usability of the Tally.ERP 9 feature.

Say, you transact with a supplier in one currency (say $) while the rest of your business uses another currency (say INR). You’d like to keep track of the Dollars due, as well as the $ amounts due for each bill in order to know your foreign currency requirements. You might also need to crosscheck the accounts in $.

At the same time you would need to see financial reports in INR. Since this figure depends on the prevailing exchange rate on the date the report is generated, it is time-consuming. With Tally.ERP 9, all reports are generated automatically –all that is needed is that the forex rates be available for reference.

Foreign exchange gain & loss entries are 'posted' automatically (as a notional entry), whenever any report is taken. The day you decide to make these entries regular (say end of the financial year) you can post the required accounting Journal.

Importers and exporters who typically need the facility can maintain Bank, customer and other accounts in any currency.

As a branch or subsidiary of a foreign entity, you may need to generate reports in a currency other than the base. This capability is available across all reports.

When you need to compare companies having different base currencies, switch one company to use the currency of the other, or switch them both to a third!

Basically, every amount field in a Tally.ERP 9 voucher is multi-currency enabled, making it possible for a supplier to, say, send a quote for items in INR, some in US$ and some in €.













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